One of the most important exchanges in the United States, has taken important steps to get involved in the virtual currency market. The reality is that crypto exchanges have been profiting from the important influx of new investors at the end of 2017. But which are the cryptocurrencies that Nasdaq is backing?
Stellar, Litecoin and Bitcoin
Stellar is one of the first digital currencies that has been backed by Nasdaq. According to exchange, Stellar has the potential to grow by partnering with enterprises like IBM. The currency allows companies to perform worldwide cross-border transfer which is very useful for many industries.
The Stellar Network has been created and developed in order for financial institutions and individuals to participate on it. It is an hybrid blockchain that is open source and distributed.
Litecoin is another virtual currency that Nasdaq mentioned as one with future potential. Why? Some weeks ago, Blocknet announced that Litecoin will function as a cross-blockchain decentralized application. These kind of partnerships would allow Litecoin and other currencies to keep growing, aggregating value and being used.
Litecoin is known as a cryptocurrency for payments, that has short transaction times, and low fees. It can be used in many different stores and websites and it is listed in an important number of virtual currency exchanges. Moreover, the currency does not want to replace Bitcoin, but instead, complement it.
Finally, Bitcoin has been marked as the favourite cryptocurrency with huge future potential. Nasdaq believed that the Consensus was going to have a positive multiplying effect in Bitcoin’s price. But it did not happen. Bitcoin was not able to capitalize the positive atmosphere at the meeting and grow.
But it is important to mention that Bitcoin will be implementing the so awaited scaling solution known as the Lightning Network (LN). As we wrote some days ago, the LN would help Bitcoin scale reducing transaction times and fees almost to zero. Additionally, the number of users is also expected to grow with this implementation that is also trying to add support to privacy functionalities.
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Author: Carlos Terenzi”